A form of sales promotion, mainly used in the consumer market, that awards something of value to winners based on skills they demonstrate compared to other consumers.
Generally considered the most popular form of market research, this research method has the objective of providing an accurate description for something that is occurring (e.g., monthly sales volume, customer preference).
Marketing research method that uses a less structured and often less scientific approach to discover general information about a topic that is not well understood by the marketer.
Represents customer purchase decisions that result in a customer making unplanned purchases often due to marketer’s promotions (e.g., coupons, in-store demonstrations) or product placement strategies (e.g., product located at checkout lane).
A form of promotional price adjustment that offers a product at a price considered to be lower than the normal selling price such as temporary sale pricing and lower pricing intended to remove extra inventory.
Type of consumer purchase decision in which purchases are routine and often the consumer purchases the same product without consideration for other product or brand options.
A concept related to carrying out research that is concerned with whether the research is really measuring what it claims to be measuring.
A strategic approach in which an organization attempts to get the most from its resources by following a planned procedure for identifying customers who possess the greatest potential to respond to the marketer’s efforts and help the marketer meet objectives.
Stage within the Product Life Cycle which occurs before a product is introduced to the market and is principally a time for honing the product offering and preparing the market for the product.
Factors considered outside the control of marketers but that potentially influence marketing decision-making and include demographics, economic conditions, governmental environment, influential stakeholders, cultural and social change, innovation and competitors.